PALO ALTO, CA and LONDON, UNITED KINGDOM--(Marketwired - May 31, 2017) - Jumio, the creator of Netverify® Trusted Identity as a Service (TIaaS), has today announced that it is expanding its UK headquarters to Shoreditch as part of the company's continued growth and expansion in EMEA.
The identity verification leader has grown significantly in the region, with the account management team doubling and technical department tripling in size year-over-year (YOY), requiring considerable expansion of office space.
The move follows one of the most successful quarters in Jumio's history with over 47 percent annual recurring revenue (ARR) growth YOY compared to Q1 2016. It positions the business at the heart of London's financial centre and consolidates Jumio's global reach alongside its offices in Palo Alto, Vienna and Rajasthan.
With 3.25 million victims and an annual cost of £5.4 billion, identity fraud is now the largest category of fraud carried out against individuals in the UK. As the de facto standard in identity verification with over 50 million identity validations to date, Jumio's Netverify TIaaS incorporates hybrid technologies including biometric facial recognition, computer vision technology and document verification alongside human expertise, to combat this growing issue.
Stephen Stuut, CEO, Jumio, said: ''The expansion of our UK headquarters to Shoreditch represents a key step forward in our ambitious growth strategy. We have just enjoyed the two best quarters in our history and Shoreditch is the perfect platform for us to grow in Europe's booming finance, sharing economy and online gaming sectors, among others. We have already built the most respected brand in this space across EMEA, and this move positions us to even better serve our existing customers and the entire EMEA market.''
Netverify is the ID verification solution of choice for multiple companies across a range of industries including the sharing economy, travel, gaming and finance. In March, Jumio announced two new customers in B2B auctioning platform Saltrex and car-sharing aggregation app Free2Move.
About Jumio
Jumio, the creator of Netverify® Trusted Identity as a Service (TIaaS), enables businesses to increase customer conversions while providing a seamless customer experience and reducing fraud. By combining the three core pillars of ID Verification, Identity Verification and Document Verification, businesses now have a complete solution that allows them to establish the real-world identity of the consumer. Leveraging advanced technology like biometric facial recognition and machine learning, Jumio helps customers to meet regulatory compliance including KYC and AML and tie the digital identity to the physical world. Jumio has verified more than 50 million identities issued by over 200 countries from real time web and mobile transactions. Jumio's solutions are used by leading companies in the financial services, sharing economy, higher education, retail, travel and online gaming sectors. Based in Palo Alto, Jumio operates globally with offices in the US and Europe, and has been the recipient of numerous awards for innovation. For more information, please visit www.jumio.com